TopPicks form Stephen Takacsy, president, chief executive officer and chief investment officer, Lester Asset
Stephen Takacsy, president, CEO and chief investment officer at Lester Asset Management, discusses his top picks: High Liner Foods, Logistec, Definity Financial.High Liner is a 120-year-old company that’s one of North America’s leading brands and processors of frozen value-added seafood to both food retailers and the food service sector. High Liner is the number one value-added player in Canada in the retail sector and the number one supplier in the U.S. in the food service sector.
Sales and EBITDA have been growing steadily over the past few years, and the company recently announced record sales and profits. It also just raised its dividend by 30 per cent which is a strong vote of confidence in the future. It expects to grow sales and EBITDA again in 2023 and generate significant free cash flow to pay down debt. Insiders own 40 per cent of the company, so have plenty of skin in the game. The stock is dirt cheap trading at around 7X earnings.
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